Question
Q-4. Canenas Marketing Company has the following adjusted trail balance at the end of the current year. Cash dividends at $600 were declared at end
Q-4. Canenas Marketing Company has the following adjusted trail balance at the end of the current year. Cash dividends at $600 were declared at end of the year, and 500 additional shares of common stock ($.10 per value) were issued at the end of the year for $3,000 in cash (For a total at the end of the year of 800 shares). These effects are below.
Adjusted Trail Balance (?)
End of the current year (?)
debit credit
Cash 1,500
Account receivable 2,200
Interest receivable 100
Prepaid Insurance 1,600
Long-term notes receivable 2,800
Equipment 15,290
Accumulated depreciation 3,000
Accounts payable 2,400
Dividends payable 600
Accrued expense payable 3,920
Income taxs payable 2,700
Unearned rent revenue 500
Common stock (800 shares) 80
Additional paid in capital 3,620
Retained Earning 1,400
Sales revenue 38,500
Interest revenue 100
Rent revenue 800
Wages expense 19,500
Depreciation expense 1,800
Compute total assets for Catenas Marketing Company based on the adjusted trail balance
Total Assets { ? }
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